Various methods are known in the art for securing ends of filamentary material to rotating storage reels and spools. However, none of the known methods have been found adequate to suitably cut and grip rapidly moving metal filaments, which may move at rates in excess of a mile a minute, i.e., at speeds in the order of 1,000 to 6,000 ft./min. and greater. Speeds of this magnitude are frequently a prerequisite to a practical operation if the desired characteristics of the filament are to retained. For example, the amorphous character of metal alloys such as those described in U.S. Pat. No. 3,856,513, results from exceedingly high quench rates, i.e., in the order of many hundreds of degrees per second. As a consequence, such amorphous filament must be spun, quenched and ejected at extremely high rates. It is thus apparent that a need exists for apparatus which is suitable to grasp and store filaments which are being processed at a rate of many hundreds of feet per minute, or more, while the filament is in movement.